Question: Service organization control (SOC) reports may be requested by auditors when a service organization processes transactions
Question:
Question: Service organization control (SOC) reports may be requested by auditors when a service organization processes transactions related to a client's (user organization) internal control over financial reporting.\\nRequired:\\nFor each of the following statements related to Service Organization Control (SOC) reports, indicate whether it is appropriately related
Service organization control (SOC) reports may be requested by auditors when a service organization processes transactions related to a client's (user organization) internal control over financial reporting.\\nRequired:\\nFor each of the following statements related to Service Organization Control (SOC) reports, indicate whether it is appropriately related to a Type 1 report (T1), Type 2 report (T2), both a Type 1 and Type 2 report (B), or neither a Type 1 or Type 2 report (N).\\n\\\\table[[a. Disclaims an opinion on the fairness of the entity's financial statements.],[b. Provides a description of the service organization's internal control over financial reporting.],[c. Summarizes tests of operating effectiveness of controls at the service organization.],[d. Expresses an opinion on the suitability of design of internal controls over financial reporting],[e. Use of the service auditor's report is restricted to specified parties.],[f. Would be requested when client is an issuer.],[\\\\table[[g. Disclaims an opinion on the operating effectiveness of internal control over financial],[reporting]]],[\\\\table[[h. Would be requested in the audit of a nonissuer if the audit team has decided to rely on],[internal control over financial reporting to reduce substantive testing.]]]]
Auditing Cases An Interactive Learning Approach
ISBN: 978-0132423502
4th Edition
Authors: Steven M Glover, Douglas F Prawitt